November 18, 2012

I saw an article on Yahoo recently where the author claimed that Uncle Sam was "taking 15 to 25 percent of the average retiree's income". I knew that wasn't the case. The author probably meant the marginal tax rates but the way they worded that it sounds like they think effective tax rates are 15-25%. Thats certainly not the case.

So what are the effective tax rates for seniors? What about other age groups?

Well I had to figure the numbers based on # of filers and their total incomes and total taxes paid per age group.

TaxFoundation has a page which gives all the data for 2009, they just got it off the IRS site. Effective Income tax Rate per age group for 2009 :

All
returns

12%

Under 18

8%

18 under 26

5%

26 under 35

9%

35 under 45

12%

45 under 55

14%

55 under 65

15%

65 and over

13%

This includes all filers in each age group. Some people didn't have to file and its looking at the Adjusted Gross Income.

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